BITCOIN - BTC/USD - 1H - Technical analysis published on 07/08/2019 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Bullish
Technical indicators
33%
22%
44%
My opinion
Bullish above 11,212.00 USD
My targets
11,504.60 USD (+0.09%)
12,032.20 USD (+4.68%)
My analysis
In the short term, there could be an acceleration of the basic bullish trend on Bitcoin - BTC/USD. This is a positive signal for buyers. As long as the price remains above 11,212.00 USD, a purchase could be considered. The first bullish objective is located at 11,504.60 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 12,032.20 USD as an objective. Crossing it would then enable buyers to target 12,445.90 USD. In the event of a return below 11,212.00 USD, the price would probably only initiate a small short-term correction to improve the bullish trend. Trading this correction may be risky.
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The Bitcoin - BTC/USD price is 11,493.90 USD. On the day, this instrument gained +0.10% and was traded between 11,328.26 USD and 11,544.47 USD over the period. The price is currently at +1.46% from its lowest and -0.44% from its highest.11,328.26
11,544.47
11,493.90
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by Bitcoin - BTC/USD:
Technical
A technical analysis in 1H of this Bitcoin - BTC/USD chart shows a bullish trend. 78.57% of the signals given by moving averages are bullish. The overall trend is reinforced by the strong bullish signals from short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators does not currently provide any relevant information on the direction of future price movements.
But beware of excesses. The Central Indicators scanner currently detects this:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Momentum indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Williams %R indicator is back under -50
Type : Bearish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified these signals:
Near horizontal resistance
Type : Bearish
Timeframe : 1 hour
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Black evening star
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 9,844.73 | 10,760.70 | 11,212.00 | 11,493.90 | 11,504.60 | 12,032.20 | 12,445.90 |
| Change (%) | -14.35% | -6.38% | -2.45% | - | +0.09% | +4.68% | +8.28% |
| Change | -1,649.17 | -733.20 | -281.90 | - | +10.70 | +538.30 | +952.00 |
| Level | Intermediate | Major | Minor | - | Intermediate | Minor | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 10,637.68 | 10,862.97 | 11,172.57 | 11,397.86 | 11,707.46 | 11,932.75 | 12,242.35 |
| Camarilla | 11,335.07 | 11,384.10 | 11,433.13 | 11,482.16 | 11,531.19 | 11,580.22 | 11,629.25 |
| Woodie | 10,679.82 | 10,884.05 | 11,214.71 | 11,418.94 | 11,749.61 | 11,953.83 | 12,284.50 |
| Fibonacci | 10,862.97 | 11,067.30 | 11,193.54 | 11,397.86 | 11,602.19 | 11,728.43 | 11,932.75 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7,244.05 | 8,429.25 | 9,829.61 | 11,014.81 | 12,415.17 | 13,600.37 | 15,000.73 |
| Camarilla | 10,518.95 | 10,755.96 | 10,992.97 | 11,229.98 | 11,466.99 | 11,704.00 | 11,941.01 |
| Woodie | 7,351.64 | 8,483.04 | 9,937.20 | 11,068.60 | 12,522.76 | 13,654.16 | 15,108.32 |
| Fibonacci | 8,429.25 | 9,416.93 | 10,027.12 | 11,014.81 | 12,002.49 | 12,612.68 | 13,600.37 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 53.38 | |
| MACD (12,26,9): | 31.6100 | |
| Directional Movement: | -2.79 | |
| AROON (14): | -57.14 | |
| DEMA (21): | 11,464.38 | |
| Parabolic SAR (0,02-0,02-0,2): | 11,547.45 | |
| Elder Ray (13): | 4.78 | |
| Super Trend (3,10): | 11,148.23 | |
| Zig ZAG (10): | 11,460.00 | |
| VORTEX (21): | 1.0700 | |
| Stochastique (14,3,5): | 48.44 | |
| TEMA (21): | 11,479.82 | |
| Williams %R (14): | -54.19 | |
| Chande Momentum Oscillator (20): | -45.90 | |
| Repulse (5,40,3): | 0.2500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0500 | |
| Courbe Coppock: | 0.88 |
| MA7: | 11,310.39 | |
| MA20: | 11,103.13 | |
| MA50: | 9,416.64 | |
| MA100: | 7,559.40 | |
| MAexp7: | 11,458.52 | |
| MAexp20: | 11,420.75 | |
| MAexp50: | 11,378.25 | |
| MAexp100: | 11,338.11 | |
| Price / MA7: | +1.62% | |
| Price / MA20: | +3.52% | |
| Price / MA50: | +22.06% | |
| Price / MA100: | +52.05% | |
| Price / MAexp7: | +0.31% | |
| Price / MAexp20: | +0.64% | |
| Price / MAexp50: | +1.02% | |
| Price / MAexp100: | +1.37% |
This member declared not having a position on this financial instrument or a related financial instrument.
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